Observer Money

Chamwe Kaira  The Bank of Namibia (BoN), acting as agent for government debt issuance and management, conducted its first treasury bills auction for 2026 last Thursday, with demand remaining firm across all maturities. The auction, held on 29 January 2026, attracted total bids of about N$2.2 billion, with N$1.512 billion allocated across four treasury bill tenors.  The bills covered 90-day, 182-day, 273-day and 364-day maturities and all settled on 30 January.  Bid-to-cover ratios ranged between 1.10 and 1.97, showing continued investor interest in short-term government paper. For the 90-day treasury bill maturing on 30 April 2026, the government allocated N$352…

Chamwe Kaira  Namibia’s stock of international reserves rose at the end of December 2025, supported mainly by net inflows of the South African rand and revaluation gains, the Bank of Namibia (BoN) has reported. Official reserves increased by 4.9% month-on-month to N$51.6 billion.  The rise was driven by strong net rand inflows linked to portfolio investment, as well as favourable price movements in some fixed-income securities held by the central bank. At this level, the international reserves were sufficient to cover an estimated 3.3 months of imports.  When oil and gas exploration and appraisal-related imports are excluded, import cover improves…

Staff Writer Global air cargo demand reached a record level in 2025, according to full-year and December data released by the International Air Transport Association (IATA). Full-year demand in 2025, measured in cargo tonne-kilometres, rose by 3.4% compared to 2024. International operations recorded higher growth of 4.2%.  Cargo capacity increased by 3.7% over the same period, with international capacity up by 5.1%. December 2025 closed the year on a strong note. Global demand was 4.3% higher than in December 2024, while international demand rose by 5.5%.  Global capacity increased by 4.5%, with international capacity up by 6.4%. IATA reported that…

Staff Writer  Global passenger demand reached record levels in 2025, even as airlines faced aircraft delivery delays, maintenance backlogs and rising costs that limited capacity growth, the International Air Transport Association (IATA) said. In its full-year and December 2025 passenger market performance report released on 29 January 2026 in Geneva, IATA said total global demand, measured in revenue passenger kilometres, increased by 5.3% compared to 2024.  Capacity, measured in available seat kilometres, rose by 5.2%, pushing the overall passenger load factor to a record 83.6% for the year. International travel drove most of the growth. Full-year international demand rose by…

Staff Writer Global asset manager Ninety One expects to complete the South African leg of its acquisition of Sanlam Investment Management Proprietary Limited this week. This marks the start of a long-term strategic relationship with the Sanlam Group. The transaction follows joint announcements made by Ninety One and Sanlam in November 2024 and March 2025, when the two groups outlined plans to form a long-term active asset management partnership.  The deal involves Ninety-One Limited acquiring all the shares in Sanlam Investment Management and formally launching an initial 15-year strategic relationship with Sanlam once the transaction is completed. As part of…

Chamwe Kaira Stimulus Investments Limited has sold a 7.2% stake in Cymot Investments (Pty) Ltd and renewed a cautionary notice to shareholders. In a voluntary update issued on the Johannesburg Securities Exchange (JSE), the Namibia-incorporated investment holding company said it concluded the transaction to partially exit its investment in Cymot.  The sale increases the shareholding of the Cymot Employee Share Trust, allowing greater ownership by employees within the Cymot Group. Stimulus said the transaction was settled in cash. After the sale, the company retains a 25.1% shareholding in Cymot Investments. The company also advised shareholders that it has entered into…

Chamwe Kaira The Bank of Namibia (BoN) was scheduled to return to the market on Thursday with a treasury bill auction totalling N$1.51 billion across the 91-, 182-, 273- and 364-day maturities. According to Simonis Storm, system liquidity rose slightly to N$5.3 billion from N$5.2 billion at the previous auction. “This suggests a modest reduction in incremental funding capacity among banks, which could slightly temper participation at the margin. Namibia's position liquidity, however, declined more sharply to N$569 million from N$1 billion previously,” Simonis Storm said. Despite the drop in position liquidity, recent auction results show that overall conditions remain…

Chamwe Kaira Bannerman Energy Ltd ended the quarter to 31 December 2025 with a cash balance of A$89.3 million and liquid assets of about A$12.7 million.  The company has no debt apart from normal creditor balances. Early works spending reached about A$48.5 million, while committed early works contracts total around A$42.1 million. Bannerman said its balance sheet supports a disciplined, stage-gated approach to spending and contract awards.  The company continues to assess funding options for Etango, including project and corporate debt, as well as possible offtake and joint venture arrangements. Azure Capital and Vermilion Partners are advising on the funding…

Chamwe Kaira Japan plans to build a synthetic diamond plant in the United States under a memorandum of understanding signed with the United States.  The agreement sets a framework for up to US$550 billion in Japanese strategic investments aimed at strengthening economic and national security ties between the two countries. The move could further weaken Namibia’s natural diamond exports, as the United States is one of the country’s largest markets. The Bank of Namibia has already said that growing competition from synthetic diamonds is pushing down prices for natural stones. Late last year, Debmarine Namibia chief executive officer Willy Mertens…

Staff Writer Paratus Namibia Holdings Limited said shareholders unanimously approved all resolutions tabled at its Annual General Meeting held on 27 January 2025. The meeting was convened in line with the notice issued to shareholders on 4 December 2025. No special resolutions were considered. At the time of the AGM, the company had 98.90 million shares in issue. Shareholders representing 91.84 million shares attended in person or by proxy. This represented about 93% of the total voting shares. Shareholders approved the adoption of the Integrated Annual Report for the financial year ended 30 June 2025, including the annual financial statements.…